Atlassian (TEAM) Trading 7.1% Higher

Atlassian Co. PLC (NASDAQ:TEAM)’s share price traded up 7.1% during trading on Wednesday . The company traded as high as $50.71 and last traded at $50.40. 2,122,926 shares were traded during mid-day trading, an increase of 43% from the average session volume of 1,479,813 shares. The stock had previously closed at $47.06.

A number of equities analysts have commented on the company. Zacks Investment Research lowered Atlassian from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Robert W. Baird boosted their price objective on Atlassian from $43.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Summit Redstone restated a “buy” rating on shares of Atlassian in a research report on Thursday, October 19th. BMO Capital Markets boosted their target price on Atlassian to $51.00 and gave the stock a “market perform” rating in a research report on Friday, October 20th. Finally, Oppenheimer boosted their target price on Atlassian to $50.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.20.

The firm has a market capitalization of $11,600.00 and a price-to-earnings ratio of -210.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 19th. The technology company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. The business had revenue of $193.80 million during the quarter, compared to the consensus estimate of $185.78 million. Atlassian had a negative return on equity of 2.11% and a negative net margin of 7.96%. The firm’s revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 earnings per share. research analysts predict that Atlassian Co. PLC will post -0.13 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its holdings in shares of Atlassian by 166.3% in the second quarter. Voya Investment Management LLC now owns 28,189 shares of the technology company’s stock worth $992,000 after acquiring an additional 17,604 shares in the last quarter. Royce & Associates LP bought a new stake in shares of Atlassian in the second quarter worth about $2,885,000. Wells Fargo & Company MN increased its holdings in shares of Atlassian by 36.2% in the third quarter. Wells Fargo & Company MN now owns 497,185 shares of the technology company’s stock worth $17,476,000 after acquiring an additional 132,081 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Atlassian by 12.2% in the third quarter. Sei Investments Co. now owns 294,226 shares of the technology company’s stock worth $10,342,000 after acquiring an additional 31,935 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Atlassian by 28.4% in the third quarter. Artisan Partners Limited Partnership now owns 7,543,086 shares of the technology company’s stock worth $265,139,000 after acquiring an additional 1,668,292 shares in the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.

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About Atlassian

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

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